FX.co ★ Iran increases revenues from gas export up to $10 bln

National Iranian Oil Company (NIOC) plans to increase revenues from gas export from $3.5 billion to $10 billion, according to company's director Javad Oji.
NIOC intended to raise gas delivery to the neighboring countries from 35 million to 100 million cubic meters per day, Oji said in April. It could be achieved by means of new contracts with Turkey and Iraq.
Last year Oji said that by 2016 Tehran would grow gas exports up to 180 million cubic meters per day. During the 25th World Gas Conference, Malaysia, which was held in June 2012, he told that by that time Iran would produce 1.2 billion cubic meters gas per day. By comparison with Iran, as to mid-March this year, Russia produced 1.9 billion cubic meters.
The US and Europe impose sanctions striving to reduce revenues of Iran raised by oil and gas sales abroad. The Western governments consider this is the means by which they might force Tehran to stop the Iranian nuclear programme, which is aimed, as it is supposed, at creation of nuclear weapon. At the same time, some US and EU allies, Turkey in particular, continue to purchase Iranian oil and gas saying they do not have alternative.
According to the International Energy Agency (IEA) estimates, in 2012, Iran lost $40 billion due to sanctions. In January, oil production in the Islamic country amounted to 2.65 million barrels per day. Meanwhile, in the mid 2000s the figures were 4.2 million barrels per day.